Gold prices declined to approximately $4,330 per ounce on Thursday, maintaining proximity to the historic highs set in October. The precious metal's allure is bolstered by anticipated further rate cuts from the US Federal Reserve and persistent geopolitical uncertainties. Fed Governor Christopher Waller indicated support for additional rate reductions, emphasizing a cautious approach by policymakers. This follows recent US labor market data pointing to further cooling, with unemployment reaching its highest in four years and November job growth failing to compensate for October's slowdown. The market is now focused on the impending release of the delayed Consumer Price Index (CPI) report. On the geopolitical front, tensions are escalating: the US has halted all sanctioned oil shipments from Venezuela following the recent tanker seizure and military activity. Meanwhile, Russian President Vladimir Putin reaffirmed his unwavering position on territorial claims in Ukraine, as the US intensifies its diplomatic efforts for resolution.